Crop Protection YTD results driven by double-digit volume growth in new products and biologicals
Seed YTD results reflect demand for newest hybrids and varieties, strong operational execution, and growth in out-licensing
Full-year 2025 guidance3 raised due to year-to-date performance, incremental controllable lever benefits, and strength of growth platforms
INDIANAPOLIS, Nov. 4, 2025 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) ("Corteva" or the "Company") today reported financial results for the third quarter and nine months ended September 30, 2025.
3Q 2025 Results Overview
Net Sales
Loss from Cont. Ops (After Tax)
EPS
GAAP
$2.62B
$(308)M
$(0.46)
vs. 3Q 2024
13 %
41 %
39 %
Organic1 Sales
Operating EBITDA1
Operating EPS1
NON-GAAP
$2.59B
$49M
$(0.23)
vs. 3Q 2024
11 %
149 %
53 %
2025 YTD Results Overview
Net Sales
Inc. from Cont. Ops (After Tax)
EPS
GAAP
$13.49B
$1.74B
$2.54
vs. 2024 YTD
4 %
91 %
97 %
Organic1 Sales
Operating EBITDA1
Operating EPS1
NON-GAAP
$13.73B
$3.40B
$3.11
vs. 2024 YTD
6 %
19 %
39 %
2025 YTD Highlights
Net sales increased 4% versus prior year. Organic1 sales increased 6% in the same period with gains in almost all regions.
Seed net sales increased 5% and organic1 sales increased 7%. Price/Mix was up 3% led by North America2 and EMEA2 with continued execution on the Company's price-for-value strategy for new technology offerings. Volume increased 4%, primarily reflecting increased corn area in North America2 and early safrinha deliveries in Latin America.
Crop Protection net sales increased 3% and organic1 sales increased 5%. Volume increased 7%, driven by new products and biologicals demand. Price declined 2% primarily due to the market dynamics in Latin America.
GAAP income and earnings per share (EPS) from continuing operations were $1.74 billion and $2.54 per share, respectively.
Operating EBITDA1 and Operating EPS1 were $3.40 billion, and $3.11 per share, respectively.
The Company updated full-year 2025 guidance3 and expects net sales in the range of $17.7 billion to $17.9 billion. Operating EBITDA1 is expected to be in the range of $3.8 billion to $3.9 billion. Operating EPS1 is expected to be in the range of $3.25 to $3.35 per share.
The Company provided a preliminary view3 of 2026 and expects Operating EBITDA1 to be $4.1B at the midpoint of the range.
1. Organic Sales, Operating EPS, and Operating EBITDA are non-GAAP measures. See page 6 for further discussion. 2. North America is defined as U.S. and Canada. EMEA is defined as Europe, Middle East and Africa. 3. The Company does not provide the most comparable GAAP measure on a forward-looking basis. See page 7 for further discussion.
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"We delivered a strong third quarter across the company, reinforcing our conviction that our two businesses will continue to thrive as independent public companies. In Crop Protection, demand for differentiated technology and productivity gains support margin expansion, while Seed continues to benefit from its strength in advanced genetics, growth in out-licensing and ongoing cost discipline.
Our planned separation in the second half of 2026 is driven by our belief that it will create long-term value, as "New Corteva" and "SpinCo" strengthen their positions as market leaders with sharper focus, tailored capital allocation strategies and increased flexibility. Until then, we will continue to execute on our growth platforms and financial framework as one company with a unifying vision: to drive value for farmers, shareholders, employees and the communities we all call home."
Chuck MagroChief Executive Officer
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Company UpdatesOn October 1, 2025, the Company announced its plan to separate into two independent public companies: "New Corteva," focused on differentiated technology solutions in crop protection, including biologicals, and "SpinCo," dedicated to advanced genetics and emerging technologies including gene editing, hybrid wheat, and biofuels. The transaction is expected to be completed in the second half of 2026, subject to customary approvals.
Strategic Rationale
Distinct Market Opportunities: The separation enables tailored innovation, operational design, and go-to-market strategies for each company.
Farmer-Centric Flexibility: Both companies will be better positioned to deliver more choices and critically needed technologies to farmers, maximizing and protecting yields in a dynamic global market.
Capital Allocation Optimization: Each business will have the financial flexibility and targeted investment-grade credit ratings to pursue long-term growth, both organically and through acquisitions.
Launching from Strength
Through the first half of 2025, Corteva returned $7 billion in cash to shareholders since 2019.
Corteva has invested $8.9 billion4 in cumulative research and development since 2019.
Corteva has launched over 2,500 new Seed and Crop Protection products since 2019.
4. Represents cumulative R&D expense from 2019-2025E
Next Steps
A dedicated separation management team has been established.
The separation is intended to qualify as a tax-free transaction for U.S. federal tax purposes.
Leadership and board transition planning is ongoing.
Summary of Third Quarter 2025For the third quarter ended September 30, 2025, net sales increased 13% versus the same period last year. Organic1 sales increased 11%.
Volume was up 12% versus prior year on growth in both Crop Protection and Seed. Crop Protection volume increased 5% over the prior year driven primarily by demand for new products, herbicides, and biologicals. Seed volume increased 27% versus prior year due primarily to early deliveries in Latin America in advance of the safrinha season.
Price was down 1% versus prior year. Seed price/mix was up in nearly all regions, offset by competitive price dynamics in Latin America for both Seed and Crop Protection.
GAAP income from continuing operations after income taxes was a loss of $308 million in third quarter of 2025 compared to a loss of $519 million in third quarter of 2024. Operating EBITDA1 for the third quarter of 2025 was income of $49 million, up 149% compared to prior year.
3Q
3Q
%
%
($ in millions, except where noted)
2025
2024
Change
Organic1Change
Net Sales
$2,618
$2,326
13 %
11 %
North America
$707
$610
16 %
16 %
EMEA
$462
$415
11 %
7 %
Latin America
$1,161
$989
17 %
15 %
Asia Pacific
$288
$312
(8) %
(5) %
2025
2024
%
